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USDA's May 29 quarterly trade outlook raised its FY2024 ethanol export forecast by $400 million to $4 billion, with a projected record volume that exceeds the FY2018 volume of 1.6 billion gallons. The agency attributed the change to competitive US prices and a more favorable US-Brazil price spread.
A larger ethanol export program supports corn demand and plant output, which indirectly supports DDGS supply; the effect on feed prices is modest.
mnbiofuels.orgLiliana TovarJun 3, 2024After 1,040 past bullish report events, CORN moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
